![]() As face-to-face meetings became logistically impossible, the platform helped to update contact records and track activity, enhancing company profiles with information like revenue, staff size, and funding.Īffinity claims to have analyzed over 18 trillion emails and 213 million calendar events to build its relationship intelligence graph. Zhou says that the pandemic placed a greater emphasis on relationship building and intelligence for Affinity’s customers, who had to work harder to build their networks and engage the right founders or CEO. Dealmakers in private capital and services typically have lots of connections, creating a network effect that further increases use of our platform.” Making connections This connection data … drives both our relationship graph and the relationship scores that provide the ‘warm’ introductions that deliver deals. “A typical Affinity user has over 1,600 connections, and we’ve mapped more than 48 million relationships overall. We see a lot of Excel spreadsheets or legacy CRMs like DealCloud deployed but not used,” Zhou told VentureBeat via email. “Most often, we’re competing with legacy, transactional CRMs, or homegrown contact and deal-tracking systems. The platform turns the analysis into insights about professional relationships, revealing who in an organization has the best chance of opening doors or closing deals. Another survey found that 9% to 17% of companies consider issues with customer data integration and incorrect data their top challenges, as well as difficulty in tracking sales funnels.įounded in 2014, Affinity aggregates customer data produced by interactions and communications like email and calendar meetings, leveraging AI to analyze each data point. According to one source, 32% of sales representatives spend more than an hour each day on manual data entry. But they can be difficult to manage, with some studies finding that up to 70% of company profiles and contact information are incomplete or out of date. Advance Venture Partners, Sprints Capital, Pear Ventures, Sway Ventures, MassMutual Ventures, Teamworthy, and ECT also participated in the round, which cofounder and CEO Ray Zhou said will be put toward strengthening Affinity’s engineering team and expanding its sales and marketing reach into sectors such as investment banking, private equity, and accounting.ĬRM systems and networking platforms like LinkedIn have helped salespeople close deals for decades. Affinity, a relationship intelligence platform designed to work with existing customer relationship management (CRM) solutions, today announced that it closed an $80 million series C funding round led by Menlo Ventures, bringing its total raised to date to $120 million at a $600 million valuation.
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